Artificial currency

Artificial currency

A currency substitute, e.g., special drawing rights (SDRs).
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

Artificial Currency

A currency that does not circulate and is used for accounting purposes only. A prominent example is the special drawing right, which is based on a basket of different currencies and is used when accounting IMF transactions.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
References in periodicals archive ?
Earlier, FIA Director Muhammad Waqar Abbasi directed the FIA teams to take strict action against those involved in dollar hoarding to create artificial currency shortage.
It replaced an artificial currency, the ECU or the European Currency Unit, which was a bureaucratic solution to all the separate currencies such as the drachma, the lira, the franc and the deutshmarks.
The RMB joined the select basket of currencies (previously comprising the dollar, the euro, the Japanese yen, and the British pound sterling) that constitute the IMF's artificial currency unit, the special drawing right (SDR).
Trump also frequently blasted China on the campaign trail for alleged unfair trading practices, such as artificial currency devaluation.
Back in 1991, the talk was all about an artificial currency called the European currency unit, the forerunner of the euro, which was starting to gain traction in fixed-income and derivatives markets.
In October, the International Monetary Fund (IMF) approved the yuan's inclusion in the Fund's Special Drawing Rights (SDR), an artificial currency made up of other major units like the US dollar, Japanese yen and euro.
The reality, judging by the state of the economies in the South of Europe (Portugal, Spain, Italy, and Greece), in the East of Europe (Slovenia, Poland, Romania, Bulgaria, the Czech and Slovak Republics and Hungary), and in the Republic of Ireland, seems to show clearly that the European Union is an empty institution working only in favour of a vast financial sector, the second largest one in the World after the US, with an artificial currency, the euro, used to justify cuts in public services, and people's wages and pensions.
PPS is an artificial currency unit that eliminates price level differences between countries.
(1) An artificial currency unit that buys the same volume of goods and services in all countries
Russia -- whose medium term economic prospects remain decent at a time of high oil prices -- had indicated its strong opposition to artificial currency devaluations.
The artificial currency that ruined the Greeks, angered the Germans, nearly bankrupted the Spaniards, and left pretty much everybody else at each other's throats!
Addressing a poser on the China's artificial currency depreciation, Mukherjee said that though currency depreciation is not a part of discussion at the G-20, the economies should not resort to value judgement.